What are "normal" bid/ask spread for EUR/USD?

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farmerjohn1324

I'm trying to determine if my broker (IG) has higher than normal bid/ask spreads. And if so, is there another broker I can use (as a citizen of the USA) that might have lower spraeds?

My broker currently has a spread of 0.6pip for EUR/USD. Is this higher than average? I read an article that I found from Google (not sure how reliable the source is) that the average spread is more like 0.1 or 0.2.

What is your experience? I am having trouble running people's Expert Advisers because they tell me my brokers spread is higher than normal.
 
It's normal. They add commission to the spread. Those that advertise 0.1 or 0.2 spread add commission separately.
 
farmerjohn1324 said:
What is your experience? I am having trouble running people's Expert Advisers because they tell me my brokers spread is higher than normal.
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If the EA delivering a loss or profit depends on the small difference in spread between brokers you may ask yourself whether this is a successful EA.
 
IG's spreads are normally ALWAYS larger than their competitors. However, a problem that you've got, being American, is that there are very few FX brokers available to use.

Also, why EUR-USD? It's picked up a bit (action wise) over the last several months but why not try GBP-USD, normally far better action in that spread.
 
Well, I think that it is normal and there is nothing you should be worried about. The spread size you are seeing has added commission. Brokers offering low spreads generally have separate commissions. I use FxView and Alpari and they also have low spreads but they ask for commissions separately.
 
In the UK spreadbetting sector, the EUR/USD spread is currently about 0.6 (mid-afternoon London time), with no commission charges.
 
Lukeronchi said:
Well, I think that it is normal and there is nothing you should be worried about. The spread size you are seeing has added commission. Brokers offering low spreads generally have separate commissions. I use FxView and Alpari and they also have low spreads but they ask for commissions separately.
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You just need to immediately clarify such moments with the broker's managers, so that later it would not be an unpleasant surprise.
 
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